Taiwan

CTBC Bank is a worthy winner of this award. The Taipei-based lender is still finding its feet in the region through its subsidiaries in Indonesia, Vietnam and Japan and a growing network of branches spanning 10 Asian cities. In March, its parent, CTBC Financial Holding, bought a 35.6% stake in Bangkok-based LH Financial Group, paying Bt16.6 billion ($480 million) and marking the first big investment in Thailand by a Taiwan lender.

How did one of the world’s most successful exporters find itself in such dire straits? Much of its economy is going backwards fast. That’s starting to hit Taiwan’s banking sector too.

The island’s financial sector is struggling to meet the needs of the economy, hampered by over-regulation. As it slowly withers, will lawmakers finally address the need for change?